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Mathematics, 03.06.2020 18:57 Scienceissofun6453
Suppose Lorenzo and Neha are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Lorenzo chooses Right and Neha chooses Right, Lorenzo will receive a payoff of 6 and Neha will receive a payoff of Neha Left RightLorenzo Left 8, 4 4, 5 Right 5, 4 6, 5The only dominant strategy in this game is for (Neha/Lorenzo) to choose (Right/Left)t .The outcome reflecting the unique Nash equilibrium in this game is as follows: Lorenzo chooses (Right/Left) and Neha chooses (Right/Left) .
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Suppose Lorenzo and Neha are playing a game in which both must simultaneously choose the action Left...
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